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Regime: Risk-off, driven by stronger-than-expected US CPI data and escalating Middle East tensions, pushing the VIX higher and US 10Y yields up 5bp to 4.43%. Today’s market themes: Real-rate repricing: Hotter CPI print fuels hawkish Fed bets, pressuring risk assets. Geopolitical risk: Iran war uncertainty keeps oil elevated, supporting inflation concerns.…
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Where we are: The Dollar Index (DXY) is currently hovering around 98.15, having traded in a tight overnight range of 98.00-98.25. This is slightly above Friday’s NY close. Key technical resistance lies at 98.50, with support around 97.80. What’s driving it: All eyes are on today’s US CPI release at 08:30…
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Where we are: S&P 500 futures are trading around 5185, coming off overnight lows near 5170. The index saw a mild pullback in early EU cash trading, mirroring pre-market weakness after the hot CPI print. The futures contract remains below Friday’s close, suggesting a continuation of last week’s choppy consolidation around…
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Where we are: Gold is currently trading just below $4,710, struggling to find direction after oscillating overnight. The price action remains choppy, caught between support around $4,700 and resistance near $4,725. This level is below Friday’s NY close. What’s driving it: Falling real yields continue to provide underlying support for gold,…
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Where we are: EUR/USD is trading around 1.0785, having drifted lower in early European trade. The pair remains below the 1.08 handle after failing to sustain a rally overnight, trading in a narrow range. This is slightly below yesterday’s New York close. What’s driving it: The dominant driver for the Euro…
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Where we are: Nasdaq 100 futures are currently trading around 19,850, retreating from overnight highs after the hotter-than-expected CPI print. The index is trading roughly 0.75% below yesterday’s New York close, with the overnight range spanning approximately 150 points. Initial support lies at 19,800, with further downside targeting 19,700. What’s driving…
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Where we are: Cable is currently trading around 1.3535, pressured by rising UK borrowing costs. The pair traded in a tight overnight range, failing to sustain a recovery from yesterday’s late weakness. This level sits below the prior NY close, reflecting ongoing selling pressure this morning. Immediate resistance is seen near…
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Where we are: USD/JPY is trading around 157.50, edging higher after a choppy overnight session. The pair has been range-bound between 157.20 and 157.80 since the Tokyo open, still testing levels close to the intervention zone that prompted MoF action recently. This level continues to be a key area of contention…
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Where we are: Dow Jones futures are currently trading near the flatline, paring earlier gains in pre-market trading, around 39,450. The overnight range has been relatively contained as traders digested the higher-than-expected CPI figures released moments ago. This level sits slightly below yesterday’s New York close, suggesting a cautious open ahead.…
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Where we are: USDCAD is currently trading around 1.3715, trading within a tight overnight range. This sits slightly above Friday’s close, but below the recent highs around 1.3750. The pair remains sensitive to both oil price fluctuations and US dollar strength. What’s driving it: The Bank of Canada’s dovish stance, coupled…
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Where we are: Bitcoin is trading around $62,300, finding soft support after retreating from its overnight range high near $63,000. This level is below the prior NY close and suggests a continuation of yesterday’s softer tone. The market is currently awaiting today’s key US CPI print, which could inject volatility into…
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Where we are: The FTSE 100 is currently trading around 8,235, extending losses from yesterday’s close. The index has been under pressure in European morning trade, testing its six-week low, within an overnight range of roughly 8,210 – 8,280. This level is significantly below the prior NY close, indicating substantial negative…
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Snapshot: AUD/USD sits near 0.7200, largely unmoved as markets await Australian Wage Price Index data due at 11:30 AEST. The RBA’s reluctance to commit to a rate cut path, highlighted by Governor Bullock’s comments about “uneven” inflation progress, continues to support the currency. Watch for a break above 0.7230, the recent…
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Snapshot: WTI crude futures are holding above $101.00, anticipating volatility from this morning’s 08:30 ET US CPI release. Concerns over Strait of Hormuz disruptions remain a key supportive factor, but the domestic data looms largest near-term. Watch for a break above $102.00 on a hot CPI print, potentially targeting last week’s…
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Snapshot: The Nikkei 225 closed at 62,743, boosted by tech strength and AI optimism. However, rising oil prices are stoking inflation concerns, as reflected in the BoJ’s latest meeting minutes. Watch for further signals from the BoJ regarding additional rate hikes at upcoming meetings, particularly given upside risks to energy prices.…
